Developing Short-Term and Long-Term Objectives for Business Success

This report details the short-term and long-term objectives for a business, focusing on improving customer satisfaction, employee engagement, and revenue growth. Short-term objectives include conducting customer surveys and phone interviews, implementing employee engagement initiatives like monthly surveys and motivational activities, increasing revenue by 20% through budget meetings and expense reduction, and launching advertisements in major media outlets. Long-term objectives aim to double the company's revenue within the first year through investments and diversified revenue streams, increase market share by 50% by enhancing customer retention and service quality, improve customer retention and management by 150% by creating a customer database, and expand the company's presence by establishing 25 national and 10 international branches. The objectives are designed to be achievable and contribute to the overall success and growth of the company.

Short- and Long-Term Objectives 1
Name of the Student:
Name of the Institution:
Roll No:
Date of Submission:

Short- and Long-Term Objectives 2
Introduction
Short-term objectives, as well as long-term objectives for the business that looks at providing
female bodyguards to clients is given below. The objectives are based on the company’s
performance, and the expected performance in the first year.
Short-term Objectives
1) Objective: Improve Customer Satisfaction for the company
a) Get at least 2000 responses on the survey that is conducted, for customers: This would
include looking at whether both male customers and female customers would be
satisfied with female bodyguards, and looking at customer satisfaction as well (Khalil,
Assaf and Sayyad, 2017).
b) Conduct 100 phone interviews with the top customers: This would help in identifying
their priorities, and would be able to identify factors that they like.
c) Present an action plan for at least 5 improvements for the company that can be done in
the next quarter: This would include looking at the surveys conducted and being able
to identify kinks in the system.
d) Getting a Net Promoter Score of at least a 7.00: This would be a big help in ensuring
that the business is moving forward in a positive light, and would help in increasing
customer satisfaction for the company as well.
2) Objective: Improve Employee Engagement
a) Conduct honest surveys amongst employees at least once a month: This would help in
finding out if there are any issues that the employees feel is worth noticing. Most
female bodyguards in a company would have issues that they should be able to bring.
b) Conduct sexual harassment seminar: Since the bodyguards are females, there might be
chances of them facing harassment in the company. Thus, it would be beneficial to

Short- and Long-Term Objectives 3
have harassment seminars, and spaces for them to report such cases (Batras, Duff and
Smith, 2016).
c) Have motivational Mondays, Fun Fridays, and a staff picnic once a month: This
would help in ensuring that the employees know that they are valued by the company.
3) Objective: Increase the revenue of the company by at least 20% for the next quarter.
a) Conduct weekly budget meetings: This would help look at places where the revenue
might not be high, and to identify places where the company is bleeding money
(Oliveira, Zattar and Seleme, 2018).
b) Identify 10 areas where the company can reduce expenses: This might be in regard to
the weapons given to the bodyguards, or in terms of office equipment as well, but
there are many places where the expense of the company can be reduced.
4) Objective: Have advertisements in major newspapers and TV channels
a) Having an advertisement budget: This would be the first step in identifying how much
can be spent on advertisements and to what extent (Butscher, 2017).
b) Hire a capable advertisement agency: This would mean that they would be able to
effectively generate positive advertisement ideas.
Long-Term Objectives
1) Objective: Double revenue of the company in the first year.
a) Invest in options for improvement: This would include looking at investment by
opening up stock options for the company, investment in real estate and other non-
performing assets for the company.
b) Increase budget for growth by 50%: By increasing the budget that is provided for the
growth of the company, and using the budget in a responsible manner, it would mean
that the growth and the revenue of the company would increase by at least 75% over
the year (Stevens, Moray, Bruneel and Clarysse, 2015).

Short- and Long-Term Objectives 4
c) Diversity and grow revenue streams: In order to increase revenue, the company would
need to also provide diverse options. For example, they could provide different levels
or types of bodyguards, and would cater an exclusive type for celebrities and for those
whose first and foremost need would be a sense of privacy for themselves.
2) Objective: Increase market share by 50%.
a) Increase share of wallet by 100%: This would mean that getting more customers to
keep coming back to the company over and over (Woolley and Fishbach, 2016). This
is an essential objective that needs to be completed, since it would mean that the
market share would increase dramatically.
b) Increase quality of service by 100%: This would include making sure that the
customers are happy with the bodyguards that have been provided to them, and that
they are able to recommend the service as well. The quality of service would increase
changes of return customers as well.
3) Objective: Improve Customer Retention and Management by 150%.
a) Improve Customer retention of the company by 100%: Customer Retention is when
customers stick with the same organization for a long time. In order to do this, the
organization might consider offering rewards to loyal customers, such as ensuring that
after a certain amount of time, they could get to try the premium services offered by
the company free for a day.
b) Improve customer satisfaction: Customer satisfaction often defines the way in which a
company would be going for a certain amount of time, which is why this is an
essential element in both the long-term and short-term goals (Marchington, 2015).
c) Create a customer database: This could take years to implement, but having a
customer database that is specific to each customer might help in improving the goal
of customer satisfaction improvement and help in customer relationship management.

Short- and Long-Term Objectives 5
4) Objective: Expand Overseas and create more branches both nationally and internationally
a) Have 25 branches in the country: This would mean increasing the number of branches
that can be found in the country, and would help the company in growth (Fukuda-
Parr, 2017).
b) Have 10 branches overseas: Identify countries where such a service might be needed,
and provide the service in those countries, so that the company’s revenues and profit
increases.
Conclusion
The short-term and long-term objectives have been based on the performance of the
company, and the need of the clients as well as the employees. Thus, they are most likely to
be achieved and help the company succeed.

Short- and Long-Term Objectives 6
References
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Fukuda-Parr, S., 2017. Introduction: Goals and norms of development. In Millennium
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Khalil, E., Assaf, M. and Sayyad, A.S., 2017, September. Human resource optimization for
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Oliveira, G.A.Q.S.M.D., Zattar, I.C. and Seleme, R., 2018. Six Sigma tool selection to
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